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into with the federal housing agency freddie mac. nbc investigative michael isikoff has these newly released documents, has been going through them, he will join us to tell us what exactly has been released tonight and whether the story told by those documents comportings with newt gingrich's explanations of how he earned that money from freddie mac. conservatives developed a critique of what happened during the financial meltdown at the enof the bush presidency, a critique plays down the importance of the deregulation of wall street and plays up the importance of freddie mac and fannie mae and other government instruments. it has been a line of attack that he took consulting fees from a housing-related public agency. he was under contract with freddie mac for roughly six years. mr. gingrich has done himself nol favors in responding to that criticism when his first instinct was to say he wasn't paid for lobbying or consulting, more paid as a historian. >> your firm was paid $300,000 by freddie mac in 2006. what did do you for the money? >> i offered advice. my advice as a historian when they walked in
the contract he entered into with the federal housing agency freddie mac. nbc investigative michael isikoff has these newly released documents, has been going through them, he will join us to tell us what exactly has been released tonight and whether the story told by those documents comportings with newt gingrich's explanations of how he earned that money from freddie mac. conservatives developed a critique of what happened during the financial meltdown at the enof the bush presidency, a critique plays down the importance of the deregulation of wall street and plays up the importance of freddie mac and fannie mae and other government you strength instruments. it has been a line of attack that he took consulting fees from a housing-related public agency. he was under contract with freddie mac for roughly six years. mr. gingrich has done himself nol favors in responding to that criticism when his first instinct was to say he wasn't paid for lobbying or consulting, more paid as a historian. >> your firm was paid $300,000 by freddie mac in 2006. what did do you for the money? >> i offered advice.
tomorrow night. >>> newt gingrich has released the contract he entered into with freddie mac. he'll be joining us in just a the financial meltdown at the enof the bush presidency, a critique plays down the fannie mae and other government instruments. it has been a line of attack that he took consulting fees from a housing-related public agency. he was under contract with freddie mac for roughly six years. mr. gingrich has done himself nol favors in responding to that criticism when his first instinct was to say he wasn't paid for lobbying or consulting, more paid as a historian. >> your firm was paid $300,000 by freddie mac in 2006. what did do you for the money? >> i offered advice. my advice as a historian when they walked in and said we are making loans to people with no credit history. >> historians at that point crying out how much hundreds of thousands? how do i get a gig like that? the his storian line also led to this attack ad in florida by mitt romney against mr. gingrich. >> while florida families lost everything in the housing crisis, newt gingrich cashed in. gingrich
-down. and news on beginning itch's work for freddie mac. we have the contract just released. let's go "outfront." good evening. i'm erin burnett and tonight, breaking news. the truth behind newt gingrich's ties to freddie mac. literally, within the past eight minutes, the former speaker released records explaining his connection to the taxpayer subsidized mortgage giant. i've been reading through it, it's a 15-page contract and this is a contract for just one year, 2006. now, the speaker worked for freddie mac for several years, so 2006 is the only year that i have in my hands and here's what i can tell you it says. it says that the gingrich group had a $25,000 monthly retainer fee from freddie mac. he said that adds up to $300,000 a year, which is the maximum for the year 2006. i want to emphasize this is one out of the six that he worked for freddie mac. now, he was a consultant and he released this to make that point, to try to continue to make the distinction between consultant and quote unquote lob lobbyist. he said he warned them about the looming housing crisis. >> i have never done any
it up there and i'll read it to you. how would you phase out fanny mae and freddie mac? does the private mortgage industry he's in additional regulation? from william schmidt, governor romney? >> i think you know fannie mae and freddie mac were a big part of why we have the housing crisis in the nation that we have,ened we've had this discussion before. speaker gingrich was hired by freddie mac to promote them. to influence other people throughout washington, encouraging them to not to dismantle these two entities. "normous mistake. i think instead we should have had as withing blower, not a horn tooter. saying they were causing a housing collapse we've seen in florida and around the country. are that he problem today? absolute absolutely. offering mortgages again to people who weren't possibly repay them, creating another housing bubble which will hurt the american people. the right course for our housing industry is to get people back to work so they can buy homes again. we have 9.9% unemployment in florida. it's unthinkable. 18% real unemployment here. get people back to work, we'll g
the contract he entered into with freddie mac. he'll be joining us in just a moment to tell us exactly what has been released tonight and whether or not the story come ports with newt gingrich's previous explanations of exactly how he earned that money from freddie mac. conservatives have developed a critique of what happened during the financial meltdown during the bush presidency, plays down the importance of wall street and plays up the importance of freddie mac and fannie mae and other things promoting home ownership. so it's made public that he took consulting fees while working for a home mortgage agency. mr. gingrich has done himself no favors in responding to that criticism when his first instinct was to say he wasn't paid for lobbying or consulting, he was more paid pas a historia. >> your firm was paid $300,000 in 2006 by freddie mac. what did you do with that money? >> my life as a historian was when he came up and said. >> how many hundreds of thousands? how do i get a gig like that. the historian line also led to this attack ad in florida by mitt romney against newt gingrich. >> wh
the government- owned mortgage company freddie mac was making it more difficult for homeowners to refinance into lower cost mortgages, it also was making financial trades that profit when homeowners stay in higher cost mortgages. the trades were uncovered by propublica and npr news. chris arnold of npr joins us. chris, welcome to "nbr." do you think it was a coordinated effort by freddie mac making it tough to refinance while profiting from higher interest rate mortgages? >> thanks, tom. well, i would not use the word "coordinated" necessarily. i mean, those two things you said were true. what our story showed was that on the one hand, freddie mac was making it harder for home owners to refinance their mortgages, making credit tighter. at the same time, the investment side of the company was going out into the market making leveraged bets that pay off if homeowners are unable to refinance. we were careful to say in the story we did not see any evidence that those two actions were coordinated, but they were going on. >> tom: right, and the trades we should point out, you also note, were lega
. today we heard about it. >> you work for the people of freddie mac. >> i'm glad you ask that. i work for the people, of course, i work for the people. now, and by the way -- now, now. this is a free country, and people are allowed to come and be noisy. it's part of the american tradition. i just want to say for the record, i don't know that this lady wants to listen, but i will say to the rest of you for the record, if you go to the july 2008 "new york times," you'll see the only reference to my talking to congress about freddie mac. i told the house republicans to vote no on giving them any more money. i was opposed to them getting more money. and that is a fact. >> keeping them honest tonight, was speaker gingrich a lobbyist. two members of congress, republican, say he was. they say gingrich lobbiy eied t. tonight, we have new details. first, listen to how he described his role back in november. >> i have never done any lobbying. every contractor was in the period when i was out of the office, said i would do no lobbying, and i offered my advice. when they walked in and said we are
: in capitola, abc 7 news. >>> more to bring you monday night. coming up. freddie mac big bet against homeowner. >> unlike anything that exist in the world today. >> mobile technology from silicon valley that the allows pg&e to sniff out a dangerous gas leak. >> hi. i'm in for spencer. clouds on the increase even some drizzle around the bay. let you know what is expected for the rest of the week coming let you know what is expected for the rest of the week coming up >> cross-over into the central valley. feel like they are in another state. >> not any more. all you have to do is right a bart train to see how the other half lives. stay with us. news at see how the other half lives. stay with us. news at financial:00 tips in a ♪ okay, so who ordered the cereal that can help lower cholesterol and who ordered the yummy cereal? yummy. that's yours. lower cholesterol. lower cholesterol. i'm yummy. lower cholesterol. i got that wrong didn't i? [ male announcer ] want great taste? honey nut cheerios. want whole grain oats that can help lower cholesterol? honey nut cheerios. it's a win
on speaker gingrich to reveal his consulting contract with freddie mac. tonight, speaker gingrich's lobbying firm did just that. only partly. releasing one year of a multiyear deal. just what is it gingrich was paid an estimated $1.7 million to do. that's not only the breaking news tonight. reports tonight out of las vegas 245 a gingrich friend is writing another $5 million check to the supersuper pac. all this showing that mitt romney's lead is evaporating in florida and basically gone nationwide. take a look at the latest tracking poll. shows a virtual-romney gingrich dead heat. that's a sharp change from just last week before this weekend's south carolina gingrich blowout victory. those numbers could and almost certainly will change, but for now, the trend is so worrying to the romney forces they're attacking the challenger, not through surrogates like they have in the past or through super pacs but directly. >> while florida families lost everything in the housing crisis, newt gingrich cashed in. gingrich was paid over $1.6 million by the scandal ridden agency that helped create the cris
gingrich releases his contract with freddie mac. >> i did no lobbying of any kind. >> shepard: now we will see what haze paperwork actually proves and whether either candidate did enough to quiet the critics. everybody enjoys getting a bargain on a plane ticket. but now those published prices for air fares are about to shoot into the stratosphere. we will show you why. plus, women and children first. unless there are rich people around. tonight, accusations that crew members on that crippled cruise ship actually sold life boat seats to wealthy passengers. first from fox this tuesday night, we are live from the russell rotunda on capitol hill where president obama is getting ready to deliver his third state of the union message it is a requirement spelled out in article 2 section 3 of our constitution and it reads, in part: that the president shall from time to time give to the congress information on the state of the union. and recommend to their consideration such measures as he shall judge necessary and excellent. had one of my writers written that he or she would have been fired b
the relationship with freddie mac. romney consistently described him as a former lobbyist and today the speaker heard from a heckler about it. listen. >> newt, you work for freddie mac. >> i'm glad you asked that. i work for the people. of course, i work for the people. now -- and by the way -- >> get out of here! >> wait. >> get out of here! >> now, now. this is a free country and people are allowed to come and be noisy. it's part of the american tradition. i just want to say for the record, i don't know that this lady wants to listen but i will say to the rest of you for the record, if you go to the july 2008 "new york times," you will see the only reference to my talking to congress about freddie mac. i told the house republicans to vote no on giving them anymore money. i was opposed to them getting anymore money. and that is a fact. >> keeping them honest tonight, though, was he a lobbyist? two members of congress say he was and lobbied them. tonight we have details of the contract with freddie mac. listen how he described the role in november. >> i have never done any lobbying. any contrac
on gingrich for his association with freddie mac. romney hammered him with his pay in the debate. >> you said you were paid $1.6 million as a historian. they weren't hiring you as a historian, and this contract proves you weren't a hiss tore yal. it doesn't say you provided historical experience, you were hired as a consultant. you were making over a million dollars at the same time people in florida were being hurt by millions of dollars. >> this is a good example. as a businessman, you know that the gross revenue wasn't your personal income. we had three offices, the company was being paid. my share annually was about $35,000 a year, and the fact is i offered strategic advice largely based on history, including my history in washington. >> just one of the many exchanges we'll bring in tonight. let's bring in pulitzer prize-winning columnist for the "washington post," and also richard wolf. richard, did romney lay any hands on gingrich tonight? i think that was ms. mission, to try to regain the momentum, establish himself as a good conservative to florida voters. was that accomplished tonigh
with freddie mac he was paid 1.6 million dollars over seven years and here is a sampling of what romney has been saying. >> let's make sure that we understand, what was the work product that he was providing to freddie mac. >> now, we're going to find out. it's now ease toy find and fox news learned that the gingrich campaign has in fact released the contracts. the 2006 contract as one of mr. gingrich's enterprises had with freddie mac. it's been posted on a web page for the center for health transformation and that's one of mr. gingrich's former entities, it was a 2006 contract and there have been others, but this is one, this is the company that mr. gingrich separated himself when he formally declared his presidential campaign in may of last year and the documents posted now on the web just hours before the next dehe bait. >> and this is just breaking now, gingrich said along the way that he was acting in his roll as a historian and many in his own party, well, frankly kind of laughed at that. >> well, mitt romney has said that newt gingrich is clearly a lobbyist and if it looks like a du
millions from freddie mac as they facilitated their part of the housing bubble, which was felt in florida. talk about a wart-laid batch of candidates. early voting is already underway in florida. nearly two million republicans did vote in that state, which by the way, is more than of the republican voters in every state that's already voted, being south carolina, new hampshire, and iowa. we go to our primary post game guy. columnist johnathan altar. he's been to more rodeos than a lot of us. author of "the promise." what do you see? >> it's going to be great. this is high-class enterta entertainment. the debates keep getting wilder. even republicans, like peggy newman, are calling it a clown car. you're going to see romney using freddie mac to blame all of florida's housing woes on newt gingrich. gingrich is going to use a few different companies that bain invested in and laid off to blame all of florida unemployment on mitt. >> if only it was that simple. imagine we found out it was newt and mitt and we could ground the two of them up. >> neither of them had anything to do with it. but i
has the story. >> reporter: when freddie mac nearly went bankrupt, american taxpayers bailed them out. but when jay and bonnie silverstein, like many american homeowners, asked to refinance their above market, 7% interest rate on their philadelphia home, the answer was no. >> it's put us in financial jail. >> reporter: if they reduce that rate to 4%, the current average, they'd save $500 a month. but freddie mac, the government-run mortgage giant, that's supposed to make it easier to own a home, won't let them refinance. >> it just flies in the face of common sense. >> reporter: and it makes them angry, because it turns out freddie mac is making money from homeowners like the silversteins, by keeping them stuck in higher interest loans. a joint investigation by national public radio and pro publica has found freddie mac has invested billions of its own money in securities of its own money if homeowners are allowed to refinance mortgage rates. >> when the homeowner refinances, freddie mac now loses. >> reporter: legal, but critics call it a clear conflict of interest. >> what you're do
on to washington watchdog. another revelation causing outrage about mortgage giant freddie mac, which is backed with taxpayer dollars. the agency we thought was working to refinance mortgages for struggling homeowners was also making a profit by betting against some of those homeowners. abc's jim avila has the story. >> reporter: when freddie mac went nearly bankrupt, american taxpayers bailed them out. but when jay and bonnie silverstein like many american homeowners, asked to lower their payments, the answer was no. >> we are in financial jail. >> reporter: if they could have that rate reduced to 4%, the current average, they'd save $500 a month. but freddie mac, the government-run mortgage giant, that's supposed to make it easier to own a home, won't let them refinance. >> it just flies in the face of common sense. >> reporter: and it makes them angry, because it turns out freddie mac is making money from homeowners like the silversteins, by keeping them stuck in higher interest loans. a joint investigation by national public radio pro publica has found freddie mac has invested a billion of
wit freddie mac and did that releasing one year of a multiyear deal. it raised questions just what is it gingrich ways paid $1.7 million to do. that's not the only breaking news. reports out of las vegas a billionai billionaire gingrich friend, sheldon adel son is writing a $5.1 million effort by the super pac to support newt gingrich, all this showing mitt romney's lead evaporating in florida and gone nationwide. it shows a virtual romney-gingrich dead heat, a sharp change this last week before the south carolina blowout victory. those numbers could and certainly will change. for now, the trend is so worrying to romney forces, they're doing what they rarely do, taking the challenger, not through super pacs but directly. >> while florida families lost everything in the housing crisis, newt gingrich cashed in. gingrich was paid over $1.6 million by the scandal ridden agency that helped create the crisis. >> that new ad was straight from the romney campaign, this earlier today was straight from the stump. >> i'm calling on speaker gingrich to do two things, release all the work produ
own investments? you also have investments that invest in fannie mae and freddie mac. >> have you checked your own investments? what a line. newt had no answer. mitt's performance last night once again makes him the favorite to win florida next tuesday. for now, the favorite to win the nomination. but it wasn't all good news for romney. he seems to have trouble with telling the truth, basic stuff like when he said all his investments are held by a blind trust. not necessarily. or when he defended his vote for paul sagas. tonight, mitt romney meets the truth squad. and you've got doubt. no doubt heard that newt gingrich made this absurd claim about president obama last night. >> if you're for european socialism, you're with barack obama. >> to the republicans, he spewed that sort of stuff. i'm talking about newt gingrich here. to the voters? we have the file on alinsky tonight. plus, the more newt and mitt duke it out, the better it is for president obama. he has a new spring in his step. one reason why is the fight we're all watching on the right. and newt gets an endorsement he c
ahead, romney's tax return, gingrich freddie mac contract. we look for details. first, more "state of the union" talk with senate minority leader mitch mcconnell who joins us live next. [ male announcer ] drinking a smoothie with no vegetable nutrition? ♪ [ gong ] strawberry banana! [ male announcer ] for a smoothie with real fruit plus veggie nutrition new v8 v-fusion smoothie. could've had a v8. >> bret: as we told you at the top of the program, president obama delivers his "state of the union" address tonight at 9:00 eastern. you can see it on fox. here to talk about that and the republican response, senate minority leader mitch mcconnell. welcome, senator. >> good evening, bret. >> bret: senator, the president according to the white house will say that million of americans who work hard, play by the rules every day deserve a government and financial system that does the same. it's time to apply the same rules from top to bottom. they will say no bail-out,, no hand-outs no cop-out, an america built to last insists on responsibility from everybody. how do you respond to that? >
be active in cuba, but in a state hard hit by the housing crisis, freddie mac is an issue. the federally backed lender blamed by many for the mortgage mess. newt gingrich worked for freddy and released his frcontract. >> you were making over a million dollars. at the same time, people in florida were hurt by millions of dollars. >> reporter: romney made millions in business. >> i'm proud of the fact that i pay a lot of taxes. >> i i'd like to bring everybody else down to mitt's rate. >> reporter: a moment of agreement in a night of comeback. i'm steve handelsman, nbc news, tampa. >>> some details now on the romney tax returns and the gingrich work for freddie mac. in 2010, romney paid about $3 million in federal tax on more than $21 million in income from his investments. charitable gifts reduced his tax rate to less than 14%. romney will pay about $2.1 million with an effective tax rate of more than 15%. newt gingrich released his contract with mortgage giant freddie mac for what were called, quote, consulting and related services. he was paid a total of 1.6 million dollars for his eigh
details now on the romney tax returns and the gingrich work for freddie mac. in 2010, romney paid about $3 million in federal tax on more than $21 million in income from his investments. charitable gifts reduced his tax rate to less than 14%. romney will pay about $3.2 million with an effective tax rate of more than 15%. newt gingrich released his contract with mortgage giant freddie mac for what were called, quote, consulting and related services. he was paid a total of 1.6 million dollars for his eight years of work at freddie mac. >>> after last night's debate, voters are comparing this on another key issue, electability. and last night on the ed sew, ed asked barney frank when the conservative right is diluting itself into thinking future gingrich can beat president obama. >> the people who are supporting gingrich are not persuaded by the electability issue because i've seen this on which when you have people who are very angry, very committed, they believe that they represent the majority. and they will tell you that in fact there are as we know millions and millions who don't vote. a
hit by the housing crisis, freddie mac is an issue. the federally backed lender blamed by some for the mortgage mess. newt gingrich worked for freddie and released his contract. >> you were making over a million dollars. at the same time, people in florida were hurt by millions of dollars. >> reporter: romney made millions in business. >> i'm proud of the fact that i pay a lot of taxes. >> i'd like to bring everybody else down to mitt's rate. >> reporter: a moment of agreement in a night of combat. i'm steve handelsman, nbc news, tampa. >>> some details now on the romney tax returns and the gingrich work for freddie mac. in 2010, romney paid about $3 million in federal tax on more than $21 million in income from his investments. charitable gifts reduced his tax rate to less than 14%. romney will pay about $3.2 million with an effective tax rate of more than 15%. newt gingrich released his contract with mortgage giant freddie mac for what were called, quote, consulting and related services. he was paid a total of 1.6 million dollars for his eight years of work at freddie mac. >>
's housing crisis is severe. many blame freddie mac. >> speaker gingrich was hired by freddie mac to promote them. i think instead we should have had a whistle-blower and not a horn tooter. >> frankly i've had about enough of this. we discovered to our shock governor romney owns shares of both fannie mae and freddie mac. >> you also have investments from mutual funds that also invested in fannie mae and freddie mac. >> all right. >> they thought about spending on states and going to the moon. >> i do not want to be the country having gotten to the moon first, turned around and said it doesn't really matter, let the chinese dominate space. >> that's what got us into the trouble we are in now. we have got to say no to this kind of spending. >> reporter: ron paul and rick santorum piled on. >> we he have got to be responsible in the way we allocate our resources. >> well, i don't think we should go to the moon. i think we maybe should send some politicians up there. >> reporter: gingrich cried uncle. >> i will be glad to have a truce here. >> reporter: no deal with four days to go. i'm steve ha
are still struggling. mortgage finance giant, freddie mac, is offering homeowners who lose their jobs a break. they can skip payments on loans for up to a full year. but as kit shows us, freddie mac's generosity may not be out of the kindness of its heart. >> mortgage giant, freddie mac, is giving borrowers it hasn't in a long time. time. if you have a loan and you lose your job, your mortgage payments could be reduced to up to a year. that's up from the current limit of six months. >> they did this because they had to. >> absolutely. we've been asking them to do right by folks for a long time. >> gina gates lost her home to foreclosure and become a reform activist, meeting with numerous banks. harris sued the agency, demanding answers about its involvement in the housing meltdown. >> the reason we are getting response, it is not because they woke up today or yesterday and said this was a great idea. we want to help folks. no uncertain terms do i believe that this is because the attorney general filed 51 subpoenas against them. and they have to react. >> it's important to note t
Search Results 0 to 49 of about 1,149 (some duplicates have been removed)